LRQ Mortgage Characteristics Requested
To describe the characteristics of a mortgage requested by the applicant(s)
Position
Element
Name
Type
Requirement
Min
Max
Repeat
Monetary amount.
LRQ01 is the principal amount requested.
Percentage expressed as a decimal
LRQ02 is the loan requested interest rate percent.
Code qualifying how to extend charges or interpret value.
P0304: If either LRQ-03 or LRQ-04 is present, then the other is required
LRQ03 is the period type for payment frequency.
Monetary amount.
LRQ04 is the initial periodic principal and interest payment.
Code identifying type of residence.
LRQ05 defines intended property use.
Code indicating the type of contact.
LRQ06 defines the method of conduct of the interview.
Code indicating a Yes or No condition or response.
LRQ07 defines if the loan is an assumption of existing loan. A ``Y'' indicates it is an assumption. A ``N'' indicates it is not.
Code indicating the terms for loan assumption.
LRQ08 defines the nature of assumption when LRQ06 = Y (Yes).
Code identifying the reason the loan is needed.
LRQ09 defines the loan purpose. If LRQ09 = 05, then LRQ12 is required.
If LRQ09 is ``14 - Other Loan Purpose Code," then LRQ20 is required.
Code identifying the reason a refinance is needed.
LRQ10 defines purpose of refinance.
Monetary amount.
LRQ11 is the total amount of existing liens.
Monetary amount.
LRQ12 is the total amount of debts paid by proceeds.
A free-form description to clarify the related data elements and their content.
LRQ13 is legislative reference of a government loan program.
A free-form description to clarify the related data elements and their content.
LRQ14 is the name of the lender's program for this loan.
Code identifying the loan product category.
If LRQ15 is ``7 - Other Real Estate Loan Type," then LRQ16 is required.
A free-form description to clarify the related data elements and their content.
Code identifying the nature of loan payment.
If LRQ17 is ``01-ARM'' or ``13 - Other Loan Payment Type,'' then LRQ18 is required.
A free-form description to clarify the related data elements and their content.
A generic number
LRQ19 is the mortgage term expressed in months.
A free-form description to clarify the related data elements and their content.